character home renovations Melbourne

[Tulamalula]

would you tackle this one? No ceilings or floors!

http://www.realestate.com.au/property-house-vic-st kilda east-115989195

or this

http://www.realestate.com.au/property-house-vic-north melbourne-115978471

scary

 

[DaveM]

If you were doing 60% LVR, and had 200k cash to renovate them with, sure.

 

[Truly Exotic]

they would be awesome for a reno and flip,

but ill bet they will sell too high because of some wannabe hippy or weekender who has watched the block and renovation rescue thinks they can do it in a weekend and make a million $

this is perfect for them

 

[Aaron_C]

80% should be ok

 

[Tulamalula]

It would be 80% LVR and I do have $200K - ballpark building quote on the one for auction $100-$120K

but you're right, I can see someone going in and spending too much - the one in Peel Street appears to be a reno gone wrong and is a mortgagee in possession sale (is that the right term?)

 

[impala67]

they would be awesome for a reno and flip,

but ill bet they will sell too high because of some wannabe hippy or weekender who has watched the block and renovation rescue thinks they can do it in a weekend and make a million $

this is perfect for them

LOL agree.

Not sure about the St K East one @ 174m2 and a flip for profit versus comparable median. For a owner occupier it would be okay though.

 

[Tulamalula]

be interesting to see what it goes for, if it does - no floors or ceilings, wonder if it has walls $649 is a bit rich

 

[perthguy]

scary

That St Kilda one. What a dump!

 

[Tulamalula]

noooo, not a dump, it's got *potential*

 

[starter]

649k is a rip off. Having said that someone may pay it though, shows like the block have made these run down dumps really popular and overpriced. In 2010 I saw a house with an out side dunny in need of complete works go for 950k in Richmond, same price that you could get a similar sized property I the street with all the work completed for.

 

[impala67]

...In 2010 I saw a house with an out side dunny in need of complete works go for 950k in Richmond, same price that you could get a similar sized property I the street with all the work completed for.

...was it a blue weatherboard? I remember some crazy prices in Richmond VIC.

 

[Tim86]

The first one looks completely eaten out by termites. Time to knock it down.

The second one would be a bit risky as you share walls with others and may have structural issues.

 

[vaughan]

... shows like the block have made these run down dumps really popular and overpriced.

OK a new idea to MAKE MONEY FAST in real estate: the REVERSE RENOVATION (TM). Take a nice place and install old kitchens and bathrooms, cover the polished floor with old carpet (all materials sourced from Gun Tree or eBay). Then sell to unsuspecting renovator-wannabees!

TL;DR...

1) Buy house.
2) REVERSE RENOVATE (TM)
3) Profit!

 

[perthguy]

OK a new idea to MAKE MONEY FAST in real estate: the REVERSE RENOVATION (TM). Take a nice place and install old kitchens and bathrooms, cover the polished floor with old carpet (all materials sourced from Gun Tree or eBay). Then sell to unsuspecting renovator-wannabees!

TL;DR...

1) Buy house.
2) REVERSE RENOVATE (TM)
3) Profit!

There is so much free stuff (or ridiculously cheap stuff) on gumtree it's not funny.

 

[Tulamalula]

hahahaha, retro people would love the reverse renovate, just wondering how you'd go about reconstituting wallpaper that had been stripped off a 60s house.

Tim, the first one can't be knocked down, heritage overlay - in fact they both do.

 

[DaveM]

OK a new idea to MAKE MONEY FAST in real estate: the REVERSE RENOVATION (TM). Take a nice place and install old kitchens and bathrooms, cover the polished floor with old carpet (all materials sourced from Gun Tree or eBay). Then sell to unsuspecting renovator-wannabees!

TL;DR...

1) Buy house.
2) REVERSE RENOVATE (TM)
3) Profit!

And include a free nespresso machine so they can sip lattes while they reno the whole house in 3 days

 

[TMNT]

And include a free nespresso machine so they can sip lattes while they reno the whole house in 3 days

and argue over which colour is better for the walls and how that will reflect on their favourite AFL team

 

[Tulamalula]

and free consulting service form Cam, and he'll do actual physical hard yakka when they mess up or get a bit grizzly

 

[MRCCON]

I was seriously considering buying the peel street one.

Funnily enough, I had some mates that used to live in it as a share house.

I would of made a fair few alterations to the layout.

Was looking at around 80-100k.

 

[Tulamalula]

it's nice, and you'd have to rearrange the layout as the loo is out the back. bathroom is teenie weenie, that 3rd bedroom needs to go to make way for a bigger bathroom and some storage space. I had a builder go through it, he was saying around the 100K to bring it up to scmicko